Typical UK SME 'worth £2.9 million', according to research

Research carried out by finance provider MarketInvoice has suggested that the typical UK small and medium-sized enterprise (SME) is 'worth more than £2.9 million'.

The research also found that 66% of business owners believe company valuation to be a 'huge priority'.

According to the research, businesses in the education sector have the largest valuations, with the average totalling £4 million.

Business owners stated that their premises, products and people are 'key factors' that contribute to company value.

'Business owners seem to be driven by company valuation, but acknowledge how the right kind of finance can really help drive that number,' said Anil Stocker, CEO of MarketInvoice.

'It is imperative that they stay focused on their product or service offering and ensure the fundamentals are right first. A well-oiled business will look after itself.

'UK SMEs are thinking big, which is great for our economy, employment and global positioning. There are some huge macro and political changes taking place with Brexit and the US-China trade challenges, but it's great to see entrepreneurs seeing the growth opportunities around these events.'

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